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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
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Friday, 01 May 20
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A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
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- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- The University of Queensland
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
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